For the best summer fun in the sun, nothing beats owning your own boat in Florida. The sunshine state has its name for a reason and the open beaches are a great way to enjoy it. There is a big problem in your way and that is boat insurance. Boat insurance information is not the most common of knowledge, but it is vital to your boat ownership.
Not sure where to start? Don’t know which details matter and which don’t? We’ll guide you through the insurance deal today.
1. Insurance is Good No Matter the Size
In theory, insurance is never a bad thing to have. The reality is, insurance is far from free and you need to know what is worth insuring and what is not.
The size of your boat matters for a lot, but the rule of thumb is that few boats are too small to not bother covering with insurance. Short of a personal canoe or small rowboat, it is better to find insurance.
If you still think the boat might be small enough, look into expanding your homeowner’s insurance to cover it.
2. A Number of Factors Affect Your Rates
It is rare to have a fixed rate on your insurance. You might get a good deal for an initial payment, but there are many factors that can affect your rates.
The factors that you need to keep in mind are items like where you drive your boat, if you have formal training, whether you have marks on your driving record, and even your deductible.
This is not an exhaustive list. The power of the boat and general size may have some effect on your rates as well.
3. Saving Money in the Off-Season
Some people boat all year round and in the bright state of Florida, that is a possibility. If you take some breaks from boating, though, there may be rewards for you.
Some companies can offer a discount for storing your boat over the winter months. This is often referred to as the off-season discounts, as most boaters aren’t out so fewer people are pushing for insurance.
Catching an insurance company in the off-season is a great road to solid discounts.
4. Additional Coverage May Be Good
The basic levels of insurance will cover the worst that happens. Often it will cover you in the result of total wreckage of your boat. This is great, but is it enough?
There are so many little accidents that can cause a dent in your wallet but may be too minor to get any help from your insurance.
That means getting some additional coverage from an extra policy could be a lifesaver. The last thing you need is to get caught without coverage because of a tiny detail you missed.
5. Storing on Land Can Have Risks
Now, accidents on the water or going in and out of the water can happen, but you planned for that. Now you store your boat away for the winter and everything is safe.
There is always something that can go wrong. From bizarre things like animals getting into the control panel to a simple car backing up too far into your boat.
Since you aren’t on the water, your boat insurance might not cover you! Some policies can cover your boat all the time, but not all do.
Be mindful of where your policy stops and when in doubt, look into that additional coverage to cover the little areas.
6. Traveling to Winter Weather
One of the biggest appeals to Florida is that you get to avoid all the harsh winter weather of the northern US. So, for your time in Florida, you won’t have to worry about winter weathering and insurance hikes.
Of course, many like to travel and when you end up north, you might have to face some consequences.
There is specific coverage that can help protect you from ice and freezing damage. If you decide to make trips up north a common thing, you will need to look into it.
7. Boat Insurance for International Travel
If your travels go even farther than the Northern US, you may have to deal with a new set of insurance issues. International travel can put up a few obstacles regarding your insurance.
Your agent can help guide you through an extension on your insurance to cover your international trip. Like all other things, it will often take the simple form of additional coverage on our policy.
8. Boat Insurance Discounts
Making sure you get everything covered in your insurance is good. By this point, though, you may have wracked up a massive premium with all the little detail coverage.
Your options are to cut back on your coverage, which only invites disaster, or find some more discounts.
There are a few routes for solid insurance discounts. Safety courses on how to drive and secure your boat are the big ones. There can also be some deals for bundles, so if you need other insurance, ask your agent.
9. Other Marine Transport Insurances
Sometimes insurance can get specific. If you know what to look for, this is in your favor, as specifics help cover cracks in your protections.
The biggest detail you might miss is if your boat doesn’t qualify as a boat! Items like a yacht, sailboat, or even dinghy insurance can give you cheaper coverage that fits your marine transport better.
10. Shop Around For The Best Deal
The last, and biggest, detail to manage when looking for boat insurance is finding the best deal. Shopping around the market is great to scour out the best deal for both your boat and your budget.
As a last helping hand from this guide, we’ll show you the best provider of boat insurance for the state of Florida. We here at Florida Best Quote have the absolute best service over any other insurer in the state.
We will help guide you through the entire process and ensure you get the absolute best rate and coverage for your particular boat. Every helpful tip here are words we live by, so you’re in safe hands.
Putting the Boat Insurance Information to Work
Now that you’re a good deal more caught up on how to understand all this boat insurance information, you’re ready to tackle the waves.
For the insurance you need with quality service, we here at Florida Best Quote have you covered. Still got more questions? Browse our FAQ and then get a hold of us for the only boat insurance you’ll ever need.